INGENIA COMMUNITIES GROUP — Capital/Financing Update 2007

May 2, 2007

ASX Announcement ING Real Estate Community Living Group $("ILF")$

3 May 2007

ILF dispatch of Product Disclosure Statement

ING Management Limited, the Responsible Entity of the ING Real Estate Community Living Group ("Fund") confirms that the Product Disclosure Statement in connection with the nonrenounceable Entitlement Offer and Public Offer announced to the Australian Securities Exchange on 23 April 2007, was dispatched to all registered unitholders in the Fund on 3 May 2007.

a katalogia katalogia kwa mwaka wa mwaka wa mwaka wa mwaka wa mwaka wa mwaka wa mwaka wa wa wa wa wa wa wa

Ian Muir Chief Executive Officer ING Real Estate Community Living Group T: +61 2 9033 1019

About ING Real Estate Community Living Group

ING Real Estate Community Living Group is a publicly traded property trust (REIT) on the Australian Securities Exchange which invests in seniors and student housing in Australia, Canada, New Zealand and the United States and has total assets in excess of approximately A\$1.2 billion. The portfolio consists of a 63% weighting to the United States, 23% to Australia, 12% to Canada and 2% to New Zealand.

About ING Real Estate

ING Real Estate is a global real estate company, active in real estate investment management, development and finance. With a total business portfolio of over A\$150 billion and offices in 21 countries in Europe. America, Asia and Australia, ING Real Estate ranks among the world's largest real estate companies. ING Real Estate is part of ING Group, a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries.